Envestnet Asset Management Inc. decreased its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,059 shares of the pipeline company's stock after selling 38,897 shares during the period. Envestnet Asset Management Inc.'s holdings in Plains All American Pipeline were worth $4,903,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wedbush Securities Inc. boosted its holdings in shares of Plains All American Pipeline by 33.8% in the fourth quarter. Wedbush Securities Inc. now owns 31,945 shares of the pipeline company's stock valued at $546,000 after acquiring an additional 8,071 shares in the last quarter. World Investment Advisors boosted its holdings in Plains All American Pipeline by 4.2% during the fourth quarter. World Investment Advisors now owns 21,100 shares of the pipeline company's stock worth $360,000 after buying an additional 850 shares in the last quarter. National Bank of Canada FI purchased a new stake in Plains All American Pipeline during the fourth quarter worth about $27,000. Summit Financial LLC purchased a new stake in Plains All American Pipeline during the fourth quarter worth about $977,000. Finally, Prevail Innovative Wealth Advisors LLC boosted its holdings in Plains All American Pipeline by 10.0% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 94,107 shares of the pipeline company's stock worth $1,607,000 after buying an additional 8,536 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company's stock.
Plains All American Pipeline Price Performance
Plains All American Pipeline stock traded up $0.03 during mid-day trading on Monday, hitting $18.31. 2,533,932 shares of the company were exchanged, compared to its average volume of 3,046,957. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The business's 50 day simple moving average is $18.91 and its two-hundred day simple moving average is $18.46. The company has a market capitalization of $12.89 billion, a P/E ratio of 25.08 and a beta of 1.17. Plains All American Pipeline, L.P. has a 12-month low of $15.58 and a 12-month high of $21.00.
Plains All American Pipeline Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.30%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline's dividend payout ratio (DPR) is 208.22%.
Analyst Ratings Changes
A number of research firms recently commented on PAA. Scotiabank decreased their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Morgan Stanley boosted their price objective on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Barclays decreased their price objective on shares of Plains All American Pipeline from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Raymond James boosted their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Wolfe Research upgraded shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of "Hold" and a consensus target price of $20.36.
Check Out Our Latest Stock Analysis on Plains All American Pipeline
About Plains All American Pipeline
(
Free Report)
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.
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